Hossam Heiba, CEO of GAFI, attended the final event where selected companies pitched their projects to a high-level judging panel of experts, investors, and entrepreneurial leaders, with over 200 guests present.
Heiba asserted that Egypt is currently in an exceptional
phase offering unprecedented and promising opportunities for entrepreneurs in
terms of size and diversity. He urged young people to seize these
opportunities, emphasizing the need to strengthen the business environment to
enable them to launch their ideas and translate innovation into value-added
economic growth.
Heiba announced the launch of a new Technology Hub within
the Nasr City Free Zone, in partnership with a specialized developer. This
integrated center will be dedicated to helping startups expand, export to
foreign markets, and enhance their regional and international competitiveness.
The GAFI CEO detailed the authority's efforts to streamline
the business climate through simplified incorporation procedures, including the
"Single Company System," and a dedicated unit to serve and offer
fee-free support and incentives to startups.
He further noted that GAFI is working with the Financial
Regulatory Authority (FRA) and the Tax Authority to provide necessary
facilities and ensure institutional support for startups to achieve sustainable
growth, recognizing entrepreneurs as "tomorrow's business leaders and the
main driver of the Egyptian economy."
Heiba also highlighted the significance of Egypt joining the
European Union's Horizon Europe program, calling it a "golden
opportunity" to link national research bodies and scientific centers with
the innovation ecosystem and utilize national research capabilities for
globally competitive, innovative solutions.
The training program, which received over 1,000 project ideas from various governorates, culminated with 10 selected startups receiving awards in recognition of their innovations and promising potential for expansion.